Southwestern Energy (ticker: SWN) announced fourth quarter results and reserves last week, showing $307 million in net income, or $0.54 million per share.
Fayetteville sale refocuses company
Southwestern produced an average of 2.54 Bcfe/d in Q4, down slightly from the 2.60 Bcfe/d the company produced in Q4 2017. This decline is due to the company’s Fayetteville sale, which closed in early December. If production from this play is excluded, Southwestern grew production by 17% year-over-year.

Southwestern’s reserves fell this year, dropping to 11.9 Bcfe from 14.8 Bcfe in 2017. Most of this drop is due to the Fayetteville sale, and if this basin is...